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Zillow to issue $650 million in new stock and convertible debt

Zillow Group Inc. Z, -0.16% ZG, -0.12% mentioned overdue Wednesday that it intends to issue $325 million in new magnificence C inventory and $325 million in convertible bonds. Zillow magnificence C inventory is down 2.8% in the extended session after remaining down 2% to $60.70 all over regular trading. The underwriters may have an choice to purchase an additional $48.8 million in school C inventory and $48.8 million in convertible debt. Goldman Sachs and Citigroup Global Markets are performing as joint book-running managers. Zillow inventory is up 48% this year, because the S&P 500 index SPX, -0.86% has gained 1%.